Bought car new in 2007. Dealer wouldn't budge on the price, only threw in floor mats. I took the deal because this was the only on they had on the lot with side front & rear airbags.
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Introduction
Reviewed: 2007 Toyota Corolla
4dr Sedan 126-horsepower 1.8L I4 4-speed automatic FWD2007 Toyota Corolla Love Letter
The Corolla has been a reliable, low-cost, mostly satisfying car. Haven't had any major problems in 108k miles. Gas mileage is great. Lot of these out there achieving high-mileage without major repairs.
Dislikes:
The Corolla is a great in-town car, but it is certainly not Autobahn ready. This model did not come with cruise control. Above 65 mph the car is more challenging to drive and the ride quality is mediocre.
Wheel covers pop off all the time. I'm told that the shop removes the wheel covers every time the tires are rotated. Subsequently, the plastic clips that hold the covers to the wheel break off and then you lose your hubcap/wheelcover. The first time I bought the Toyota replacement for $90 (for 1 wheel). After that I started going to a junkyard for replacements (2 more times).
Door locks on passenger and right-rear door failed. Dealer quoted $897 to fix.
Brakes squeal all the time. Told that there is really nothing that can be done. Online forums suggest that this is a universal problem.
Conclusion
Corolla is great for the budget. Total cost of ownership over 5-10 years is one of the lowest around. Bought for $17k, drove 100k miles at ~30 mpg, car still worth $7K. Drives like a small car.
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